BIR Ruling No. 460-2021

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OFINTERNALREVENUj Quezon City ate of Tax Exemption No: A R Q - 2 ffl 2 CERTIFICATE OF TAX EXEMPTION TO ALL WHOM IT MAY CONCERN: This certifies that E.M.CUERPO,INC.(TIN: �), an entity engaged by the National Housing Authority (NHA), is teoxSeemcpttionf2ro0m(d)p(r1o)jeacntd-r(edl)a(j[;3e)dofiRnecpoumbelitcaAxc,t(crRedAi)taNbol~e withholding tax and value-added tax pursuant 7279,as amended by RA No. 10884(Balanced Housing Development Program Amendments)dated July 17,2016,on its income received directly in connection with the construction/development ofTen (10) Five-Storey Residential Buildings consisting of600 socialized housing units under the NHA's Socialized Housing Program, intended for the Informal Settler Families(ISFs)residing along danger areas,to wit: Date of Date of Contract Price Project Name Location No. of Notice of Contract Socialized (Php) Camarin, Award Agreement Housing Units Ten (10) Five-Storey Caloocan subject of tax March 9, April 21, -3 Residential Buildings 2015' City exemption 2015 May 22, with Land Development 20152 and Survey Works, 600 Camarin Residences III However,the purchases ofgoods/articles by E.M.CUERPO,INC.,shall be subject to VAT, even ifthe said purchases are to be used for the socialized housing pbreowjjuwenwcidt.<.,;srisntcoeodVytrAh\aTIt E.M.CUERPO itos aainl iIJnIdUiIrJeCc^tI tlaOxA Which can be pa"ssed on by the seller ofthe goods/service--s. It shall INC., must issue VAT Exempt official receipts on its gross receipts frorr the said socialized housing project. This Certificate ofTax Exemption is being issued on the basis of the facts and documents as represented and submitted. However, if upon investigation, the BIR ziscertains that the facts are different, then this Certificate shall be considered null and void Issued this day of DEC 1 3 2021 CAESAR R.DULAY K-l-JAC Commissioner of Internal Revenue 047762 7^ 'Date acknowledged by E.M.Cuerpo,Inc. � 'Date acknowledged by NHA. i ^The Original ProjectCostofPhp365,888,828.63 was revised to Php392,404,297.34 for additional workscovered by Variation Order No.1 issued by the NHA dated June 20, 2016,which contract price was again adjusted to Php402,208,297.34 per Variation Order No.2 dated September6,2018,and was revised to final Contract Cost amounting to Php400,286,795.06 per Variation Order No.3dated October 19 2021 by reason of deductive cost due to changes in land development works, building construction, sewerage treatment plant and new works.